The Sloane Bros is a new premium frozen yoghurt who were born out of a realisation that many consumers were turning to healthier frozen treats rather than higher fat alternatives.
Following the success of their first flagship shop on London’s Brick Lane, The Sloane Bros have begun crowdfunding on Crowdcube – where they hope to raise £150,000 at 7.50% equity.
With a second shop opened in Nottingham, the frozen yoghurt brand is showing much potential.
“Our early results have mostly been driven by word of mouth due to our froyo’s delicious, fresh and creamy taste, product quality (some industry products are made using powders), our fun branding, and our unrelenting focus on friendly service.”
Founder Joe Chakra, spotted a market gap and a need for a brand with an engaging story and superior quality and taste. He was determined to create a frozen yoghurt brand that matched the quality of its craftsmanship and the delicious taste of its dairy that the UK is known for.
Their key advertising strategy relies on social media – not a problem when their Instagram page has over 3,500 followers.
Over the next 12 months, they plan to launch our B2B and franchising businesses and forecast sales to reach over £350,000 by December 2017.
The funds from this round of crowdfunding will be used to secure new UK locations and to launch the B2B packaged products business, as well as set up the franchising infrastructure.
The business has so far been funded by £150,000 from private investors. The founder also converted a director loan of £175,000 into equity before this capital raise. The business also has a loan of £25,000 from Virgin Start-up and £100,000 from Lancer Capital, the founder’s investment vehicle.
So far, the frozen yoghurt brand has raised 36% of its total goal, with 37 days of their Crowdfunding campaign left.
Interested? Find out more about investing in The Sloane Bros here.